Vodacom in R17.5-billion BEE ownership transaction

Vodacom has announced a “ground-breaking” BEE ownership transaction, valued at R17.5 billion.

The “largest ever BEE transaction in the ICT sector” includes existing BEE partners and a new staff scheme, said Vodacom.

YeboYethu will remain listed on the BEE segment of the JSE, it added.

The new scheme will see BEE partners exchange their current shareholding in Vodacom South Africa for a shareholding of between 5.8% and 6.25% in Vodacom Group.

“Vodacom Group has agreed terms with Royal Bafokeng Holdings, Thebe Investment Corporation, YeboYethu, and a newly-formed staff scheme – whose combined interests will be consolidated into a new YeboYethu BEE structure that will own shares in Vodacom Group,” said Vodacom.

The transaction remains subject to regulatory and shareholder approvals.

“It will replace and build on the R7.5-billion Vodacom SA BEE ownership scheme that was concluded in 2008 and anticipated to unwind on 8 October 2018.”

“The existing transaction, comprising a 6.25%

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